Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 3:58 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500780 | NSE: ZUARIIND

Zuari Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹111.64Overvalued by 51.46%vs CMP ₹230.00

P/E (5.2) × ROE (1.7%) × BV (₹1,569.00) × DY (0.44%)

₹544.45Undervalued by 136.72%vs CMP ₹230.00
MoS: +57.8% (Strong)Confidence: 43/100 (Low)Models: 4 Under, 1 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹246.9127%Fair (+7.4%)
Graham NumberEarnings₹1,184.1516%Under (+414.8%)
Earnings PowerEarnings₹77.1313%Over (-66.5%)
DCFCash Flow₹176.0413%Over (-23.5%)
Net Asset ValueAssets₹1,571.679%Under (+583.3%)
Earnings YieldEarnings₹397.209%Under (+72.7%)
ROCE CapitalReturns₹934.519%Under (+306.3%)
Revenue MultipleRevenue₹163.086%Over (-29.1%)
Consensus (8 models)₹544.45100%Undervalued
Key Drivers: EPS CAGR 121.2% lifts DCF — verify sustainability. | ROE 1.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 121.2%

*Investments are subject to market risks

Investment Snapshot

49
Zuari Industries Ltd scores 49/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health31/100 · Weak
ROCE 2.8% WeakROE 1.7% WeakD/E 1.00 High debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 56.7% Stable
Earnings Quality65/100 · Strong
OPM expanding (3% → 6%) Improving
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +8% YoY Growing
Industry Rank45/100 · Moderate
P/E 5.2 vs industry 20.7 Cheaper than peersROCE 2.8% vs industry 8.6% Below peersROE 1.7% vs industry 7.9% Below peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:58 am

Market Cap 684 Cr.
Current Price 230
Intrinsic Value₹544.45
High / Low 416/210
Stock P/E5.24
Book Value 1,569
Dividend Yield0.44 %
ROCE2.82 %
ROE1.69 %
Face Value 10.0
PEG Ratio0.04

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Zuari Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Zuari Industries Ltd 684 Cr. 230 416/2105.24 1,5690.44 %2.82 %1.69 % 10.0
Magadh Sugar & Energy Ltd 688 Cr. 488 821/4137.85 5722.56 %12.7 %13.8 % 10.0
Dhampur Bio Organics Ltd 754 Cr. 114 127/65.031.8 1451.10 %3.97 %1.56 % 10.0
Davangere Sugar Company Ltd 539 Cr. 3.77 7.90/3.0363.5 3.520.00 %6.70 %3.17 % 1.00
Dwarikesh Sugar Industries Ltd 861 Cr. 46.5 52.6/32.143.6 40.71.08 %5.48 %2.86 % 1.00
Industry Average2,024.68 Cr265.4020.73225.550.76%8.62%7.89%6.37

All Competitor Stocks of Zuari Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 252282191269116262226237235272257241263
Expenses 258233243282126142201233242245232230270
Operating Profit -649-52-13-10121254-7282511-8
OPM % -2%17%-27%-5%-9%46%11%2%-3%10%10%4%-3%
Other Income 52142826089115175954254522547
Interest 62676974726869716359636156
Depreciation 8677777778778
Profit before tax -23118-46-3480261-34-15-24-15-0167-25
Tax % -83%13%4%-5%9%-3%-2%-1%7%42%18%2%7%
Net Profit -4102-48-3272963-34-15-25-21-0164-26
EPS in Rs -1.2634.34-15.85-10.67244.8921.35-11.20-4.84-8.31-6.950.0255.34-8.69

Last Updated: March 3, 2026, 1:42 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 12:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6425205536035507747718347229558389701,034
Expenses 6405185685755569051,031843710927786921978
Operating Profit 22-1529-6-131-260-91228525056
OPM % 0%0%-3%5%-1%-17%-34%-1%2%3%6%5%5%
Other Income 60213321071001211272305621,041154341
Interest 11343966119113160202264248282262240
Depreciation 88815202125292327272930
Profit before tax 43-19-60-20-38-165-325-113-45314784-88127
Tax % 77%57%-36%1%9%-11%22%-13%-22%1%9%8%
Net Profit -1-26-38-20-41-148-396-98-35309713-94117
EPS in Rs -0.41-8.93-14.96-8.80-10.56-43.68-124.81-29.20-12.19104.30239.72-31.3039.72
Dividend Payout % -245%-11%-7%-11%-9%-2%-1%-7%-8%1%0%-3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-2500.00%-46.15%47.37%-105.00%-260.98%-167.57%75.25%64.29%982.86%130.74%-113.18%
Change in YoY Net Profit Growth (%)0.00%2453.85%93.52%-152.37%-155.98%93.41%242.82%-10.97%918.57%-852.11%-243.93%

Zuari Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:5%
3 Years:10%
TTM:15%
Compounded Profit Growth
10 Years:%
5 Years:12%
3 Years:0%
TTM:-358%
Stock Price CAGR
10 Years:14%
5 Years:42%
3 Years:20%
1 Year:-18%
Return on Equity
10 Years:-2%
5 Years:0%
3 Years:2%
Last Year:-2%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 4, 2025, 2:15 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 29292929292929292930303030
Reserves 6796491,7601,8802,3782,1521,1371,8492,8852,3123,8304,9594,644
Borrowings 2286237608661,1531,4711,9402,2882,5122,6912,4362,5682,347
Other Liabilities 4005564424596247738307408167741,1951,3631,082
Total Liabilities 1,3361,8582,9913,2354,1844,4263,9374,9076,2435,8077,4928,9208,104
Fixed Assets 79252370539550544698665654645622609607
CWIP 111691421287132716710
Investments 4703751,4331,6002,2112,0231,1321,8773,1802,5864,8526,3796,025
Other Assets 7761,0631,0461,0841,4151,7882,1042,3642,4012,5752,0121,9251,462
Total Assets 1,3361,8582,9913,2354,1844,4263,9374,9076,2435,8077,4928,9208,104

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -158-288-12109-125-451261096226971-1
Cash from Investing Activity + 1341-45-5-97-114-360-20469-159475183
Cash from Financing Activity + 13623866-9821416023290-87-89-583-163
Net Cash Flow -10-895-92-2-54422-3618
Free Cash Flow -161-387-98100-153-1693310856259101-16
CFO/OP -4,000%-11,600%-8%326%1,963%51%-51%-1,010%728%1,012%136%-47%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-226.00-621.00-775.00-837.00-7.00-132.00-261.00-11.0010.0026.0050.0048.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 756962568649514037312424
Inventory Days 4551,4328968311,8091,8401,2158641,031629502405
Days Payable 35058029538382562646526028314216299
Cash Conversion Cycle 1809226635051,0711,263800644785518364330
Working Capital Days 6382-27117916194928172-537-349
ROCE %3%3%-1%2%3%-2%-5%3%4%11%4%3%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.81%56.81%56.81%56.81%56.81%56.81%56.71%56.71%56.71%56.71%56.71%56.71%
FIIs 1.30%1.30%1.36%1.49%1.55%1.60%1.46%1.41%1.30%1.33%2.46%1.11%
DIIs 0.01%0.01%0.01%0.01%0.26%0.33%0.87%0.85%0.66%1.01%1.01%1.15%
Government 0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Public 41.85%41.86%41.78%41.67%41.35%41.24%40.93%41.00%41.29%40.93%39.79%41.00%
No. of Shareholders 27,94027,69827,48726,41727,24827,78629,13331,33831,14030,62731,54831,490

Shareholding Pattern Chart

No. of Shareholders

Zuari Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
JM Small Cap Fund 343,404 1.49 9.36338,4042026-02-22 18:38:261.48%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -31.30239.72102.84-11.95-31.58
Diluted EPS (Rs.) -31.30239.72102.84-11.95-31.58
Cash EPS (Rs.) -42.75239.32-15.76-5.75-1.25
Book Value[Excl.RevalReserv]/Share (Rs.) 1675.091296.09779.97985.71661.44
Book Value[Incl.RevalReserv]/Share (Rs.) 1675.091296.09779.97985.71661.44
Revenue From Operations / Share (Rs.) 325.81281.31320.71245.18283.21
PBDIT / Share (Rs.) 54.1594.4370.5580.7069.49
PBIT / Share (Rs.) 44.4585.2461.3472.9859.56
PBT / Share (Rs.) -50.16254.06-22.07-16.78-16.31
Net Profit / Share (Rs.) -52.45230.14-24.97-13.46-11.19
NP After MI And SOA / Share (Rs.) -31.30239.72102.84-12.17-31.58
PBDIT Margin (%) 16.6233.5621.9932.9124.53
PBIT Margin (%) 13.6430.3019.1229.7621.02
PBT Margin (%) -15.3990.31-6.88-6.84-5.75
Net Profit Margin (%) -16.0981.80-7.78-5.49-3.94
NP After MI And SOA Margin (%) -9.6085.2132.06-4.96-11.15
Return on Networth / Equity (%) -1.8618.4913.11-1.22-4.68
Return on Capital Employeed (%) 1.864.754.344.454.75
Return On Assets (%) -1.049.525.27-0.57-1.86
Long Term Debt / Equity (X) 0.310.320.750.580.82
Total Debt / Equity (X) 0.500.611.120.831.00
Asset Turnover Ratio (%) 0.110.120.150.120.00
Current Ratio (X) 0.870.741.521.351.29
Quick Ratio (X) 0.470.410.820.460.35
Inventory Turnover Ratio (X) 1.340.610.410.500.00
Dividend Payout Ratio (NP) (%) -3.190.410.97-24.65-6.33
Dividend Payout Ratio (CP) (%) -4.620.400.89-67.35-9.23
Earning Retention Ratio (%) 103.1999.5999.03124.65106.33
Cash Earning Retention Ratio (%) 104.6299.6099.11167.35109.23
Interest Coverage Ratio (X) 0.610.990.840.891.01
Interest Coverage Ratio (Post Tax) (X) 0.470.640.700.850.94
Enterprise Value (Cr.) 2504.842645.112303.002626.872043.52
EV / Net Operating Revenue (X) 2.583.162.413.642.45
EV / EBITDA (X) 15.539.4110.9611.069.99
MarketCap / Net Operating Revenue (X) 0.711.170.330.720.28
Retention Ratios (%) 103.1999.5899.02124.65106.33
Price / BV (X) 0.130.250.130.170.11
Price / Net Operating Revenue (X) 0.711.170.330.720.28
EarningsYield -0.130.730.94-0.06-0.39

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Zuari Industries Ltd. is a Public Limited Listed company incorporated on 12/05/1967 and has its registered office in the State of Goa, India. Company's Corporate Identification Number(CIN) is L65921GA1967PLC000157 and registration number is 000157. Currently Company is involved in the business activities of Real estate activities with own or leased property. Company's Total Operating Revenue is Rs. 870.66 Cr. and Equity Capital is Rs. 29.78 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
SugarJai Kisaan Bhavan, Zuarinagar Goa 403726Contact not found
Management
NamePosition Held
Mr. Saroj Kumar PoddarChairman
Mr. Athar ShahabManaging Director
Mr. Alok SaxenaExecutive Director
Mrs. Jyotsna PoddarNon Executive Director
Mrs. Manju GuptaIndependent Director
Mr. Vijay Vyankatesh ParanjapeIndependent Director
Mr. Suneet Shriniwas MaheshwariIndependent Director
Mr. Deepak AmitabhIndependent Director

FAQ

What is the intrinsic value of Zuari Industries Ltd and is it undervalued?

As of 12 April 2026, Zuari Industries Ltd's intrinsic value is ₹544.45, which is 136.72% higher than the current market price of ₹230.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (1.69 %), book value (₹1,569), dividend yield (0.44 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Zuari Industries Ltd?

Zuari Industries Ltd is trading at ₹230.00 as of 12 April 2026, with a FY2026-2027 high of ₹416 and low of ₹210. The stock is currently near its 52-week low. Market cap stands at ₹684 Cr..

How does Zuari Industries Ltd's P/E ratio compare to its industry?

Zuari Industries Ltd has a P/E ratio of 5.24, which is below the industry average of 20.73. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Zuari Industries Ltd financially healthy?

Key indicators for Zuari Industries Ltd: ROCE of 2.82 % is on the lower side compared to the industry average of 8.62%; ROE of 1.69 % is below ideal levels (industry average: 7.89%). Dividend yield is 0.44 %.

Is Zuari Industries Ltd profitable and how is the profit trend?

Zuari Industries Ltd reported a net profit of ₹-94 Cr in Mar 2025 on revenue of ₹970 Cr. Compared to ₹-35 Cr in Mar 2022, the net profit shows a mixed trend.

Does Zuari Industries Ltd pay dividends?

Zuari Industries Ltd has a dividend yield of 0.44 % at the current price of ₹230.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Zuari Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports